XRP News: US District Court has yet to deliver a highly anticipated summary in the pivotal Securities and Exchange Commission (SEC) v. Ripple lawsuit. As the judge gets closer to closing the case, relisting XRP on crypto exchanges has become a major concern among XRP holders.
Also Read: Why Is LBRY’s Latest Lawsuit Crucial For XRP Case Review?
New offer of XRP coming soon?
XRP’s “Secondary Market Sales” has been a hotly debated issue among crypto leaders and experts. However, the court has yet to address this issue in the XRP lawsuit.
Coingape reported that the US SEC has officially admitted that sales of the LBRY Credits (LBC) tokens on the secondary market are not collateral. However, the commission’s settlement in the LBRY lawsuit would certainly be discussed within Ripple’s legal team.
Attorney Jeremy Hogan stated that he is confident that Ripple’s XRP will be offered again on crypto exchanges once the judge decides whether the token is inherently a security. The SEC’s complaint in the lawsuit alleges that XRP itself is a security. However, it does not ask anything to discuss the nature of the asset. Read more XRP news here…
What if the court refuses to admit the issue?
Hogan said there’s a very good chance the court won’t address the specific issue since the committee hasn’t explicitly raised it. However, both parties can argue about the secondary sale by adding an omission.
Also Read: Why Is The Release Of Hinman Speech Docs In XRP Lawsuit Crucial?
He stressed that Ripple and US SEC could reach an agreement to include this in the hearings. However, the judge could approve the defendants’ contention in the proposed final judgment.
Meanwhile, the district court could decide to include secondary sales concerns filed by amicus curiae. Almost the same scenario played out in the SEC vs. LBRY lawsuit in the US, where the judge agreed to address the issue.
However, in the latest filings, LBRY stated that the commission has not provided any clarification even after reaching a settlement on the matter.
Ashish believes in decentralization and has a keen interest in the development of Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching a thriller or exercising outside. Reach me at ashish@coingape.com
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This post Lawyer reveals why US exchanges may offer XRP again
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